Page 426 - Business Finance
Indices trim gains
Key indices trimmed gains in morning trade after an initial upmove. At 10:26 IST, the barometer index, the S&P BSE Sensex, was up 83.93 points or 0.22% at 38,684.27. The Nifty 50 index was up 10.55 points or 0.09% at 11,608.80.
Gold falls on muted demand from jewellers despite Akshaya Tritiya
Tepid demand from jewellers pulled down gold prices by Rs 50 to Rs 32,670 per 10 gram at the bullion market here on Tuesday, according to the All India Sarafa Association. Silver too shed a marginal Rs 10 to trade at Rs 38,120 per kg. According to traders, fall in demand from local jewellers and retailers at the domestic spot market led to the dip in gold prices despite Akshaya Tritiya, a day considered auspicious to buy gold. Globally, spot gold was trading marginally higher at USD 1,282.20 an ounce, while silver was down at USD 14.92 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purity dropped by Rs 50 to Rs 32,670 and Rs 32,500 per 10 gram, respectively Sovereign gold held steady at Rs 26,400 per eight gram. Silver ready fell by Rs 10 to Rs 38,120 per kg and weekly-based delivery gained Rs 44 to Rs 37,334 per kg. Silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
HDFC Bank will be watched as board to mull stock split
HDFC Bank said that its board will consider stock split on 22 May 2019. The board will mull a proposal to split one equity share of face value of Rs 2 each into two equity shares of face value of Re 1 each. The announcement was made after market hours yesterday, 6 May 2019.
Hong Kong Market gains 0.52%
An official confirmation that Chinese Vice-Premier Liu He will visit the US this week for a fresh round of trade talks soothes jittery sentiment. Investors waited to see how Beijing would respond to fresh tariffs threats from U.S. President Donald Trump, which have thrown trade talks between the two sides into doubt. The world's two largest economies are expected to continue talks on Thursday and Friday in Washington for negotiations aimed at ending the tit-for-tat tariff war, U.S. media reported.
Sanofi India Q1 net profit up 13% to Rs 93 cr
Drug firm Sanofi India Tuesday reported a 12.60 per cent rise in its net profit to Rs 92.9 crore for the first quarter ended March 31, 2019. The company had posted a net profit of Rs 82.5 crore for the corresponding period of the previous fiscal, Sanofi India said in a filing to the BSE. Its total income stood at Rs 740.3 crore during the quarter, compared with Rs 640.3 crore in the year-ago period. Shares of Sanofi India Ltd were trading at Rs 5,571.75 per scrip on the BSE, up 0.43 per cent from its previous close.
Drivers to go on strike ahead of Uber IPO
Uber drivers are reportedly mulling to go on strike ahead of the ride-hailing giant's initial public offering (IPO).
CoCs must share all info on NPA accounts with bidders: IBBI
The Committee of Creditors (CoC) of a non-performing asset (NPA or bad loan) account must provide all relevant information and share its vision for the company under resolution with the prospective resolution applicants in order to come up with a rescue plan, the insolvency regualtor has said.
Dewan Housing Finance Corporation Ltd leads losers in 'A' group
Reliance Power Ltd, Dish TV India Ltd, Jet Airways (India) Ltd and Bombay Dyeing & Manufacturing Company Ltd are among the other losers in the BSE's 'A' group today, 07 May 2019.
Malaysia cuts interest rate for first time since 2016
Malaysia's central bank Tuesday cut its key interest rate for the first time in almost three years as it looks to boost slowing growth as China-US trade tensions weigh on the economy. The move comes as central banks around the world adopt a more dovish stance in the face of a weak global outlook. Bank Negara Malaysia cut the rate from by 25 basis points to 3.00 percent, the first reduction since July 2016. The last change was in January 2018 when borrowing costs were increased to 3.25 per cent. The bank said "considerable downside risks to global growth remain, stemming from unresolved trade tensions and prolonged country-specific weaknesses in the major economies". "Heightened policy uncertainties could lead to sharp financial market adjustments," it added. Malaysia is showing signs of being affected by the long-running trade dispute between Beijing and Washington, while the global economy at the same time shows signs of softness. The cut comes as central banks from Japan to Europe ..
GTN Industries Ltd leads losers in 'B' group
Ind Bank Housing Ltd, Technofab Engineering Ltd, Filatex India Ltd and Arihant Foundations & Housing Ltd are among the other losers in the BSE's 'B' group today, 07 May 2019.
Volumes spurt at Gulf Oil Lubricants India Ltd counter
Gulf Oil Lubricants India Ltd notched up volume of 1.05 lakh shares by 14:18 IST on NSE, a 14.6 fold spurt over two-week average daily volume of 7211 shares
Indices sink in negative zone
Key indices sink in negative zone in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 68.58 points or 0.18% at 38,531.76. The Nifty 50 index was down 31.45 points or 0.27% at 11,566.80. Shares of index heavyweight Reliance Industries dropped. Realty stocks fell.
Jyothy Laboratories change in directorate
W.e.f. 01 April 2020
Lead futures dip 0.53% on muted demand
Lead prices drifted 0.53 per cent lower to Rs 130.60 per kg in futures trade Tuesday as speculators reduced exposure amid a weak trend at the spot market. On the Multi Commodity Exchange, lead for delivery in May contracts declined by 70 paise, or 0.53 per cent, to Rs 130.60 per kg in a business turnover of 6,122 lots. Analysts said, subdued demand at the spot market mainly led to the fall in prices here.
Yes Bank acquires shares
Of Nominal Value Rs 2/- per share
Copper futures slide 1.85 per cent on profit-booking
Copper prices dipped 1.85 per cent to Rs 430.20 per kg in futures trade Tuesday as participants booked profits at prevailing levels amid easing demand from consuming industries. On the Multi Commodity Exchange, copper for delivery in current month was trading lower by Rs 8.10, or 1.85 per cent, to Rs 430.20 per kg in a business turnover of 15,995 lots. Marketmen said besides profit-booking by speculators and easing demand from consuming industries in the spot market mainly weighed on copper prices here.
Astec Lifesciences tumbles after calling off merger with Godrej Agrovet
Astec Lifesciences fell 4.98% to Rs 500 at 14:02 IST on BSE after the company decided not to pursue merger with Godrej Agrovet.
Wipro, R3 build blockchain-based solution prototype for digital currency in Thailand
Wipro Tuesday said it has developed a blockchain-based solution prototype, in partnership with enterprise software firm R3, that will power digital currency transactions for banks in Thailand. The prototype aims to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand, Wipro said in a regulatory filing. "Developed as part of the first phase of Project lnthanon, the solution will enable de-centralised interbank real-time gross settlement (RTGS) using wholesale Central Bank Digital Currency to prove that the technology can perform key functionalities of payment and enhance efficiency," it added. Project lnthanon is an initiative led by the Bank of Thailand, in partnership with eight participating banks. The project seeks to enhance the technological preparedness of Thailand's financial sector for embracing new technologies and digitalisation. Launched in August 2018, the first phase of the project ...
Merck Ltd renamed as Procter & Gamble Health Ltd
Drug firm Merck Ltd Tuesday said it has been renamed as Procter & Gamble Health Ltd following P&G's global acquisition of the consumer health business of Merck KGaA, Germany. "The company has received approval from the Registrar of Companies, Mumbai, Maharashtra, for change of name from Merck Ltd to Procter & Gamble Health Ltd effective May 6, 2019," Merck said in a filing to the BSE. The company is taking necessary steps to comply with the formalities and documentation, as may be required by the stock exchanges to record the said change in its records, it added. Procter & Gamble Health Ltd Managing Director Milind Thatte said, "Our new name reflects our new identity as part of the P&G Group and signifies the coming together of strong consumer health capabilities and cultures". Together, "we are working towards leveraging our combined expertise to develop categories and brands that meet today's needs and tomorrow's opportunities," he added. The decision to change ..
Silver futures fall 0.06 to Rs 37,353/kg
Silver prices dropped 0.06 per cent to Rs 37,353 per kg in futures trade Tuesday amid profit-booking by participants and weak global cues. At the Multi Commodity Exchange, silver for delivery in July contracts fell Rs 23, or 0.06 per cent, to Rs 37,353 per kg in a business turnover of 23,545 lots. Traders said off-loading of positions by participants to book profits and a choppy trend in overseas markets mainly led to the fall in silver prices here. Globally, silver was trading lower by 0.08 per cent to USD 14.92 an ounce in New York.